DALATA BUYS CLAYTON HOTEL ALDGATE IN LONDON FOR £91 MILLION

Ireland-based Dalata Hotels Group has acquired the 300-year leasehold interest in a 212-room hotel adjacent to London’s Aldgate East Underground Station for £91 million (£429,000 per key) from an international private equity investor. The property, which will be branded as the Clayton Hotel Aldgate, is expected to open at the end of 2018, shortly before the opening of the nearby Liverpool Street and Whitechapel Crossrail stations in 2019. The deal will be funded by an additional debt facility which has been secured from Dalata’s existing banks.